Announcement
Intertek Group plc announced that the deadline for EQT to submit a firm takeover offer has been extended to 5:00 pm GMT on 18 June 2026.
Background of the proposal
On 11 May 2026 Intertek received a conditional proposal from EQT X EUR SCSp and EQT X USD SCSp, managed by EQT Fund Management S.à.r.l., to acquire 100 % of Intertek’s ordinary share capital. The proposal values Intertek at £60.00 per share in cash, and the financial terms have not changed since the initial offer.
Dividend entitlement
The proposal provides that Intertek will be entitled to pay a final dividend of 107.7 pence per share for the 2025 financial year. This dividend was approved by shareholders at Intertek’s Annual General Meeting held on 20 May 2026 and will be paid without any reduction to the cash consideration offered by EQT.
Due‑diligence progress
Intertek stated that confirmatory due‑diligence and the preparation of definitive transaction documentation have progressed over the past four weeks.
Regulatory approval
The Panel on Takeovers and Mergers has consented to the extension requested by Intertek’s board. Under the UK Takeover Code, by the new deadline EQT must either announce a firm intention to make an offer under Rule 2.7 or declare that it does not intend to make an offer, which will be treated as a statement under Rule 2.8. Any further extension can only be granted with the agreement of both Intertek and the Panel in accordance with Rule 2.6(c).
Timeline
- Conditional proposal received: 11 May 2026
- AGM approving final dividend: 20 May 2026
- Extended deadline for firm offer: 5:00 pm, 18 June 2026